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Learn economics principles practices with free interactive flashcards. The philosophy that government should not interfere with commerce or trade. difference between the money a country pays to and receives from other countries in trade. Economics. Economics: Principles and Practices Chapter 3. 1. a moneyless economy that relies on trade. question. fractional reserve system. The branch of economics that deals with the economy as a whole, including employment, gross domestic product, inflation, economic growth, and the distribution of income. a useful, tangible item. Agreeing to charge the same or similar prices for a product. innovation and imitation -more inventions. JulianneR1. barter economy. 0 (1 review) Term. Right to buy a share of stock at a specified price sometime in the future. a bank that is a member of the Federal Reserve System. marissasharp4. Terms to know 9. external shocks - wars, high oil prices 5. 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